|
Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation is an American non-profit charitable foundation, established in 1944 by hotel entrepreneur Conrad Hilton. It remained relatively small until his death on January 3, 1979, when it was named the principal beneficiary of his estate. In 2007, Conrad's son, Barron Hilton announced that he would leave about 97% of his fortune to a charitable remainder unitrust which names the foundation as the remainder beneficiary. Financial information The foundation's assets, as of September 2019, were approximately $2.9 billion and had increased to $6.3 billion due to Barron Hilton's passing. Since inception, the foundation has awarded more than $1.7 billion in grants. Currently more than 50% supports international charitable projects. According to the OECD, the foundation's financing for 2019 development decreased by 11% to US$42.3 million. Program areas The foundation's mission is derived from the last will and testament of Conrad Hilton that directs the organizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Foundation
A private foundation is a tax-exempt organization not relying on broad public support and generally claiming to serve humanitarian purposes. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion in assets.National Center for Charitable Statistics Most private foundations are much smaller. Out of the 84,000 private foundations that filed with the IRS in 2008, approximately 66% have less than $1 million in assets, and 93% have less than $10 million in assets. In aggregate, private foundations in the U.S. control over $628 billion in assets and made more than $44 billion in charitable contributions in 2007. Unlike a charitable foundation, a private foundation does not generally solicit funds from the public or have the legal requirements and reporting responsibilities of a registered, non-profit or charitable foundation. Not all foundations engage in philanthropy: some private foundations are used for estate planning purposes. Desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
